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In the last few years, people were thinking that the app market is at its peak and will get stable in no time; there’s no meaning of investing in mobile app development now. However, it is not so. If you are holding an amazing app idea, you can still leverage profits as per a recent report from Sensor Tower.

The report states that the app store revenue has observed a staggering 35% increase during 2016-2017. Last year, the recorded mobile app revenue was $43.5 billion, but now it is reached a significant value of $58.6 billion. And the most interesting thing is that this value includes only in-app purchases and paid downloads – not the mobile commerce purchases like Uber rides and GrubHub orders.

While Apple is pulling the bigger piece of the app revenue (nearly double of that of Google Play Store), the app downloads are increasing faster in case of Android. The data insight firm Sensor Tower claimed that Android is gaining higher downloads because of its dominance in developing markets. And Apple’s revenue growth is due to its support for in-app subscription, although they give the credit to their App Store’s makeover.

If you look at the Apple’s own figures announced a few days back, they are in alignment with Sensor Tower’s numbers. Apple said that they have scored record-breaking revenue in the holiday season, with iOS app developers earned nearly $26.5 billion in 2017. This value is excluding Apple’s cut and is about 30 percent more than the one recorded in the year prior.

Not only the app downloads, the first-time mobile app installs also increased across both the Google Play Store and App Store. The report shows that the new app installs grew from 80.7 billion to 91.5 billion globally during the period of 2016-17. Though various studies found that most of US people download zero apps on an average, the report signifies there’s a lot of potential in the developing markets.

The report finally probed into mobile gaming revenue, which also showed a hike by 30% this year. The revenue gained is estimated to be $48.3 billion which is about 82% of the total app revenue recorded. Just like that in the case of app downloads, game downloads are also more popular on Google Play Store, which accounted for 77% of the estimated games downloads.

To get more such updates about mobile app industry, read our blog section.

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